Find annual percentage rate if interest is paid annually


Annual Percentage Rate (APR). Suppose that a company borrows $20,000 for 1 year at a stated rate of interest of 9 percent. What is the annual percentage rate (APR) if interest is paid to the lender (a) annually? (b) semiannually? (c) quarterly?

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Finance Basics: Find annual percentage rate if interest is paid annually
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